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Cities, municipalities, special districts, health care, and higher education will always need capital. Because the firms we are fortunate enough to represent are the non/bulgebracket firms that know where they are going today and are planning for a successful future. That’s what public finance professionals provide.
The firm specializes in high-growth industries, so you will see a lot of investments in spaces like financial services (specifically FinTech), technology, telecommunications, information technology, and early-stage healthcare companies. When it comes to investment banking, there are only so many investment banks that you can choose from.
Even though we’ve covered industry groups vs. product groups and teams such as M&A , ECM , DCM , and Leveraged Finance , we continue to get questions about capital markets vs. investment banking. The questions usually go like this: Are capital markets teams (ECM, DCM, and LevFin) “real” investment banking? Do you learn anything?
Industry-wise, oil & gas and power & utilities are huge, but sectors like healthcare , financials , and telecom are quite significant as well: Technology has been growing, but it’s still less developed than in regions like London or NY. bulge-bracket banks , such as JPM, GS, MS, and Citi, always rank well in the league tables.
based bulgebrackets (GS, MS, JPM, Citi, and BofA) are the strongest international banks, and Avendus, Kotak, JM Financial, ICICI, and Axis are the strongest domestic firms. You’ll see deals in industrials , technology , healthcare , power , consumer/retail , real estate , and all the other sectors.
In terms of industry focus , technology (especially “general IT,” Internet, and semiconductors) and healthcare have always accounted for a high percentage of deal activity. RMB vs. USD: Does the firm raise capital in China’s currency (the RMB), or does it raise USD from Limited Partners overseas? is better for domestic funds.
After an initial slowdown when the pandemic first struck in early 2020, banks have generated record-high fees from M&A and capital markets deals. but less so in civilized places with functional healthcare systems, such as Europe. What Happened to Investment Banking Fees? These are useful in the U.S. at some smaller firms.
We’ll return to this point later, but in finance, it’s more common to do a pre-MBA internship at a small VC/PE firm or boutique bank rather than a bulgebracket bank. If you’re targeting an informal venture capital internship , private equity internship , or search fund internship , focus on smaller, local firms.
Equity research recruiting tends to be less structured, though the bulgebracket banks and elite boutiques still run traditional processes that start over a year before summer internships. If you do IB, you can get into deal-based roles ( private equity , corporate development , venture capital , etc.),
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